Question

What forces have caused cost and management accounting systems designed decades ago to become less relevant and less valuable for organizational employees in today’s globally competitive environment?

Answer 1

Answer:

The era have changed fast new technologies emerge everyday, the decade old cost management and accounting systems have become less valuable and less relevant. The main reason for this is technology, the changing nature of the requirements, emergence of more methods to calculate the estimated expenses and so on. Many organizations have already adapted to the new systems of accounting, those who are still using old method are finding ways to adapt the new techniques.

Explanation:

The era have changed fast new technologies emerge everyday, the decade old cost management and accounting systems have become less valuable and less relevant. The main reason for this is technology, the changing nature of the requirements, emergence of more methods to calculate the estimated expenses and so on. Many organizations have already adapted to the new systems of accounting, those who are still using old method are finding ways to adapt the new techniques.